Earthquake Insurance in Missouri

With recent earthquakes in Arkansas and Oklahoma, quakes are becoming more and more common. Surprisingly, most people don’t have and earthquake insurance on their current homeowners policies. In Missouri, earthquake insurance is normally affordable but most decide this coverage isn’t necessary, but we say think again.

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Earthquake Insurance in Missouri

Although earthquakes aren’t common in Missouri, the risk is very real because Missouri sits on the The New Madrid Seismic Zone. This is the most active zone east of the Rocky Mountains. According to Trusted Choice, there were more than 21,000 earthquakes of magnitude 3.5 or greater in the U.S. between 1974 and 2003.

Why doesn’t everyone purchase Earthquake Insurance?

  1.  Most don’t know that homeowner policies typically wont cover earthquake,  or think the coverage is not valuable. When shopping for insurance, it is important to know what risk we Missourians face when it comes to Earthquake–which is also called Land Movement.
  2. Consumers  don’t realize the risk for Earthquakes in Missouri. Look Back in the 1800’s, Missouri was shaken by multiple earthquakes that devastated our area.

How to Purchase Earthquake Insurance

All it takes is one Earthquake to lose a lot of what you’ve spent years building. Here are a few things to we think is important to remember when purchasing earthquake insurance:

1)   Make  sure to ask your agent or insurance company if coverage for earthquake is included in your homeowners policy. Although most Insurance policies don’t include earthquake insurance, many allow you to add it as an additional coverage.

2)    Typically, earthquake coverage is subjected to a higher deductible. Deductibles usually range anywhere from five to twenty five percent of the coverage (A) amount of your homeowners policy. This is a high deductible, in comparison to your ‘all-peril’ deductible.

3)    Next, read your earthquake coverage or endorsement very carefully. Some policies will exclude brick or stone exteriors. Make sure if you have these types of exterior you know how you are covered.

4)    Earthquake insurance can normally be included on your business, home, or renters insurance policy.

5)    Some companies won’t offer earthquake coverage at all. In cases like this, contact an independent agent like Millennium Brokers to get all your options. Millennium Brokers can offer stand alone Earthquake policies for Home, Business or Renters insurance.

For more information  you can contact Millennium Brokers. We can help insure that the things you value are covered properly.  You can also visit us at 2100 S. Brentwood Blvd, Ste G, Springfield MO 65804.

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Are you ready to save time, aggravation, and money? The team at Millennium Brokers is here and ready to make the process as painless as possible. We look forward to meeting you!

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